Looks like Toronto is really trying to one-up Vancouver as the real Hollywood of the North. On Tuesday, officials announced that a $250 million state-of-the-art production hub is coming to the Port Lands.

The new development, called the Basin Media Hub, is the biggest investment in the entertainment production ecosystem that Toronto has seen in over 20 years.

Construction for the Basin Media Hub won’t begin until 2023, but detailed renderings of the development have been released to give us a sneak peek of what to expect.

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Image via City of Toronto

The 8.9-acre site along the waterfront will be an all-in-one destination for film, television, and digital media production. It’ll be home to 8 purpose-built sound stages, production offices, as well as workshop and production support space.

Plus, the hub will feature a public promenade along the water, helping the City transform the Port Lands into a “healthier and more liveable space for workers and visitors alike.”

Also in the area is the recently-opened Pinewood Toronto Studios and Cinespace Studios, two sprawling studio lots and offices leased by Netflix to create original shows and movies.

Image via City of Toronto

The City claims that the new hub will create up to 750 jobs on-site and an additional 880 jobs to support the hub’s operations.

This is definitely an exciting time to be in Toronto, as many new and innovative developments are set to pop up in the coming years. Canada’s very first Nobu Hotel plans to open next year, complete with luxury residences and the flagship Nobu restaurant.

Image via City of Toronto

Toronto will also be home to the tallest building in the country in the next few years. The whopping 95-storey condominium will be right at the Harbourfront at the corner of Yonge and Queens Quay, so you know those views will be incredible.

Image via City of Toronto

Plus, Toronto’s new $500 million esports venue announced last month that it’s now one step closer to completion. If given the green light, the 7,000-seat venue will be completed by 2025. It’ll be giving the nearby Budweiser Stage and Scotiabank Arena a run for their money, hosting over 200 “premium music and entertainment” events per year.

Sounds like a lot of construction, but if it’s as exciting as it sounds, we’re here for it.